Enovix (NASDAQ:ENVX) Price Target Cut to $15.00 by Analysts at Canaccord Genuity Group

Enovix (NASDAQ:ENVX) had its price objective decreased by Canaccord Genuity Group from $21.00 to $15.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 146.31% from the company’s previous close.

Other analysts have also issued research reports about the stock. Northland Securities set a $16.00 target price on shares of Enovix in a research note on Monday, November 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Enovix in a research report on Monday, December 29th. TD Cowen dropped their target price on shares of Enovix from $15.00 to $7.50 and set a “hold” rating on the stock in a research report on Thursday. Craig Hallum cut their target price on Enovix from $16.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Oppenheimer restated an “outperform” rating on shares of Enovix in a research note on Thursday. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.65.

Enovix Trading Down 1.0%

ENVX traded down $0.06 during trading on Thursday, hitting $6.09. The company’s stock had a trading volume of 10,509,501 shares, compared to its average volume of 6,482,382. The company has a quick ratio of 9.47, a current ratio of 9.72 and a debt-to-equity ratio of 1.74. The stock’s fifty day moving average price is $7.19 and its 200-day moving average price is $8.96. The firm has a market capitalization of $1.31 billion, a P/E ratio of -7.55 and a beta of 2.13. Enovix has a twelve month low of $5.27 and a twelve month high of $16.49.

Institutional Investors Weigh In On Enovix

Several institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. increased its position in shares of Enovix by 7.6% during the 3rd quarter. Principal Financial Group Inc. now owns 12,613 shares of the company’s stock worth $126,000 after purchasing an additional 895 shares in the last quarter. Franklin Resources Inc. grew its stake in Enovix by 1.1% during the second quarter. Franklin Resources Inc. now owns 96,239 shares of the company’s stock worth $995,000 after buying an additional 1,093 shares during the last quarter. Intellectus Partners LLC grew its stake in Enovix by 1.2% during the second quarter. Intellectus Partners LLC now owns 103,522 shares of the company’s stock worth $1,070,000 after buying an additional 1,200 shares during the last quarter. Private Advisor Group LLC increased its holdings in shares of Enovix by 2.7% during the third quarter. Private Advisor Group LLC now owns 46,519 shares of the company’s stock worth $464,000 after buying an additional 1,242 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in shares of Enovix by 5.7% in the second quarter. Teacher Retirement System of Texas now owns 24,606 shares of the company’s stock valued at $254,000 after acquiring an additional 1,336 shares during the last quarter. 50.92% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Enovix

Here are the key news stories impacting Enovix this week:

• Positive Sentiment: Q4 beats — Enovix reported Q4 revenue of ~$11.3M (+~16% YoY) and EPS that topped estimates (loss narrower than expected). The quarter also showed improved gross profit and operating-loss improvement, which supports longer-term growth hopes. Enovix Q4 beats
• Positive Sentiment: Large call buying — Unusual options activity: ~31,896 call contracts were purchased (~90% above typical daily volume), signaling some traders are betting on a rebound. (Market activity reported in today’s news feed.)
• Neutral Sentiment: Mixed guidance — Enovix gave Q1 FY26 EPS guidance roughly in line or slightly better than consensus, but issued revenue guidance well below analyst expectations ($6.5M–$7.5M vs. ~$8.8M consensus), leaving near-term growth clarity mixed. Q1 guidance & press release
• Neutral Sentiment: Earnings call context — Management highlighted manufacturing ramp progress and strategic market expansion but acknowledged operational and financial challenges; full transcript available for details. Earnings call transcript
• Negative Sentiment: Analyst cuts — Craig Hallum trimmed its price target from $16 to $10 but kept a Buy; TD Cowen cut its target from $15 to $7.50 and moved to Hold. Those downgrades reduce near-term analyst support and likely weighed on the stock. Craig Hallum cut TD Cowen cut
• Negative Sentiment: Balance-sheet and cash concerns — Reported cash fell materially year‑over‑year and total liabilities rose; insiders have sold shares recently. These factors raise financial-risk concerns for short‑term investors. Quiver Quant summary
• Negative Sentiment: Market reaction explained — Several market notes and commentaries connect the company’s guidance miss, analyst cuts, and liquidity questions to the stock decline this session. Why ENVX is down

About Enovix

Enovix Corporation (NASDAQ: ENVX) develops and manufactures advanced lithium-ion battery cells with a patented three-dimensional silicon-anode architecture. The company’s core focus is on delivering high energy density, improved safety, and longer cycle life compared to conventional graphite-based cells. Enovix’s technology targets a range of applications, including consumer electronics, wearable devices, electric vehicles and stationary energy storage systems.

Founded in 2011 and headquartered in Fremont, California, Enovix has built pilot production capability and is scaling up manufacturing capacity to meet growing demand.